CoinDCX announces the launch of its DeFi app Okto
Co-founder of Indian crypto exchange, Neeraj Khandelwal announced the launch of its DeFi app Okto on Friday. With the app, users can access 20 chains and 100 protocols. The firm also revealed its waitlist for the mobile app and will launch the first version in the upcoming days.
The co-founders Sumit Gupta and Neeraj Khandelwal were addressing this launch at the Unfold 2022 event.
“Web3 is complicated for newcomers, the biggest problem for users is managing and safeguarding their private key as the crypto addresses and long passphrases are only way to access their assets. With this launch we are trying to simplify and enabling access and interaction for users." said Neeraj.
To make decentralised investment opportunities accessible, Okto has integrated multi party computation (MPC) technology to solve private key issues and will help users recover their pass key and funds. According to Neeraj, in the next upcoming bull run, DeFi will evolve further. ”Our vision is to make decentralised world a reality. Today De-Fi (decentralised eco-system) is evolving and we want to grow this ecosystem.”
On current market conditions, Neeraj said that users are less likely to check their portfolio while markets undergo a bearish sentiment. While things are slow, there still continue to be investors and users interested in the space, he adds.
(To access CoinDCX' Okto app waitlist, you can click here.)
Edited by Akanksha Sarma